BILOXI, Miss., Sept. 20 /PRNewswire/ --
Isle of Capri Casinos, Inc. (Nasdaq: ISLE) announced today that it will not
proceed with the development of the Jefferson County, Missouri project located
near the town of Kimmswick. The project had been selected for an
investigation of suitability by the Missouri Gaming Commission in July, 2000.
The Company cited pending and potential litigation, possible condemnation
and/or annexation of the site by a neighboring community,
engineering/construction challenges related to the project and the lack of
substantial community support in the area immediately surrounding the proposed
site. Because of these developments, the Company decided that the site cannot
be developed within the timeframes previously anticipated, if at all.
The Company remains committed to the St. Louis metropolitan area,
including Jefferson County, and would hope to develop a project in that area
in the future.
Isle of Capri Casinos, Inc. owns and operates 14 riverboat, dockside and
land-based casinos at 13 locations, including Biloxi, Vicksburg, Tunica, Lula
and Natchez, Mississippi; Bossier City and Lake Charles (two riverboats),
Louisiana; Black Hawk, Colorado; Bettendorf, Davenport and Marquette, Iowa;
Kansas City, Missouri; and Las Vegas, Nevada. The Company also operates
Pompano Park Harness Racing Track in Pompano Beach, Florida.
This press release may be deemed to contain forward-looking statements,
which are subject to change. These forward-looking statements may be
significantly impacted, either positively or negatively by various factors,
including without limitation, licensing, and other regulatory approvals,
financing sources, development and construction activities, costs and delays,
weather, permits, competition and business conditions in the gaming industry.
The forward-looking statements are subject to numerous risks and uncertainties
that could cause actual results to differ materially from those expressed in
or implied by the statements herein.
Additional information concerning potential factors that could affect the
Company's financial condition, results of operations and expansion projects,
is included in the filings of the Company with the Securities and Exchange
Commission, including, but not limited to, its Form 10-K for the fiscal year
ended April 29, 2001, and its Form 10-Q for the quarterly period ended July
NOTE: Other Isle of Capri Casinos, Inc. press releases and a corporate
profile are available by fax at no charge. For a menu of available Isle of
Capri Casinos, Inc. press releases, log on to http://www.prnewswire.com. Isle
of Capri Casinos, Inc.'s home page is http://www.theislecorp.com.
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SOURCE Isle of Capri Casinos, Inc.
Web site: http: //www.theislecorp.com
CONTACT: John M. Gallaway, President, +1-228-396-7051, or Allan B. Solomon, Executive Vice President, +1-561-995-6660, both of Isle of Capri Casinos
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